Section 1228 Credits that reverse debits
For the purposes of sections 1229 and 1230, a credit reverses the whole or part of a debit in any case where the credit falls to be made because—
(a)
the sum represented in whole or in part by the debit is paid and then wholly or partly repaid, or
(b)
the sum represented by the debit is never paid.
Notes on Chapter 2
Modifications
- C1
Pt. 16 Ch. 2 modified by 2010 c. 4, s. 676AJ(2) (as inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 75)